The Milan stock exchange suffered big
losses on Thursday amid high tension on Europe's money markets
following alarming German inflation data.
The FTSE Mib index closed 2.4% down on 20,352 points, the lowest
level since November 2020.
Among the stocks to take the biggest hits were Stellantis, down
3.9%, Bper (-3.2%), Nexi (-3.2%), Tim (-3.2%), Pirelli (-3.2%),
Moncler (-3.1%) and Stm (-3.1%).
The yield on Italy's 10-year BTP bond, meanwhile, climbed
sharply, rising to 4,7% at one stage before dropping back to
4.64%.
The yield closed at 4.5% on Wednesday.
The spread between the 10-year BTP and the German Bund was up
two basis points to 241.
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